Ripple and Coinbase come together for a new project …
by Manoj Sharma for CNR
The Securitize company, headquartered in San Francisco, which helps companies capitalize on their stocks and assets, managed to get $ 12.75 million in funding. Blockchain Capital led the Serie A with the participation of Xpring Fund and Coinbase Ventures. Even these last two names are important. They are Ripple's and Coinbase's investment weapons.
As a report, the start-up aims to highlight the $ 7 trillion dollar sector, which Securitize calls a digital security offering (DSO).
The company intends to use the funds to build a team of engineers and expand operations around the world, including Asia Pacific and Latin America.
The founder and CEO of Securitize, Carlos Domingo, believes that moving the securities on the blockchain will bring transparency and will facilitate transactions and instant transactions. He commented as part of the announcement that "blockchain seems to be a better way to manage titles." The great opportunity is in digitizing private and public shares ".
To make their titles clear, Securitize worked with 22x, Augmate and SPice VC (Domingo's VC company). The start-up intends to focus on its tokenization framework instead of building its own trading platform. However, Securitize may soon collaborate with several exchanges in addition.
Since Coinbase and Ripple deal with aspects of US securities laws, this investment from both companies appears to be strategic in nature. Especially at a time when the SEC in the United States has repressed less scrupulous projects that have fallen into its laws.